Thermal Energy International Inc. is a technology company providing custom energy and emission reduction solutions. The Company is primarily engaged in the development, engineering and supply of pollution control, heat recovery systems and condensate return solutions. During the fiscal year ended May 31, 2009, the Company operated in the energy conservation and environmental compliance (air) industry in North America and Europe, and was also engaged in the start-up phase of similar operations in China. During fiscal 2009, the Company operated in three reportable segments. In the waste energy recovery and air emission control business, customers finance these projects entirely from their own resources or through the Company’s Thermal-AUD system whereby the Company finances the project and leases back the facility to the customer. The third segment is in the condensate return system solutions business through its acquisition of Gardner Energy Management Limited (GEM) on July 1, 2008.